Casper Daily Tribune Newspaper, March 14, 1924, Page 11

been. bidding up to $1.03@$1.03%5 tidewater are moving at 40 to 44 on ANGELES, March 14—Stim- ulated by Increase in crude oll prices and decreasing. production, Califor nia o!l‘development activities are volume American Can Building Materials P PITTSBURGH, March 14—De- mand for building material is not so active here just now, a strike of a number of buliding trades. Hides CHICAGO, March 14.—The hide and skin market here is in the dol- drums. Buyers’ offerings have been from interior points. costs have increased 15 BUSINESS BRIEFS ST. LOUIS, March 14. — Whole. salers and retailers here report a gradual but definite acceleration of business which gives promise of in. creasing result as the spring sea- son advances. Orders received by wholesalers have increased. substan- ually within a week, and February sales generally were greater than @ year ago. The acknowledged need in the retail situation is improved stability in .the commodity market, but business men believe this is drawing near. Activity in steel;, rall- way transportation, automobile manufacturing and building is sat- isfaction even though prosperity is somwhat unevently distrbuted. There is continued improvement in the railroad situation. Market Gossip NEW YORK, March 14, — Day Ught enving will go into effect here Sunday, April 27, unless the present ordinance js repealed. The letter car- of the unnatural hour “it compels them to get to work." MILWAUKER March 14. — The Wisconsin State Life Insurance de- newspapers in an effort to expand its business to $1,500,000 annually. It has only $500,000 of business on its book to show for its ten years of operation. and Briefs On Operations in Oil Fields Marine Oil Operations. Latest reports on the activities of the Marine Ol] company in Salt Creek and at Sheldon Dome are given as follows: Salt Creek. Section 9-39-78—Wolverine DS-88. has reached depth of 2,500 fect; now running 8%4-inch casinj Section 16-39-78—Mosher 1; has been cleaned out to bottom and now preparing to run tubing. Mosh- er 3 is being cleaned? out. Section 17-39-78—Marine 1; Wel! was shot on March 6th with 100 quarts between 2,731 feet and 2,752 feet; now belng cleaned out. Marine 3B is a’so being cleaned out. Section 20-39-78—Taylor 5; steel rig has been completed and drillers are now rigging up. Taylor 6. cellar has been completed and rig timbers are being moved to location. Sheldon Dome, Section 8-5-2—Sheldon 2 depth at 3,435 feet. Wrsoming Oils NEW YORK, March 14.—Prices of Wyoming oils at 2 p, m. today were listed on the New York Curb as follows: Standard oll Indiana 62%; Boston ‘Wyoming 1; Mountain Producers 18%; Mutual 12; Salt Creek 217%. Hatfield No. 2 Hatfield Oil company well No. 2 on the Eight Mile Lake structure near Rawlins ts now down several hun- * dred feet. is at Must Change Estimate Depth of the Billy Creek test well has now reached 4,197 feet, or 7 feet deeper than where the Muddy, sand ‘was expected. It will be necessary for a revision of estimates on forma- tions to be made. It is thought by Some geologists that the Muddy Refineries Op sand in Billy Crek structure will not be reached at depth less than 4, 275 to 4,300 feet. Medicine Bow Misses Drilling at 4,650 feet, the Medicine Bow test has hit the horizon ‘at which the Muddy sand was expected but no sand has been encountered. New estimates figure the Muddy to be between 4,785 and 4,835 feet. An Columbus Oil Spudding Experiencing some trouble with frozen water lines, the Columbus Oil company or Benedum-Trees inter- ests, is spudding its well on the NW of sec. 7-36-81 at North Cas- per Creek structure. Utah Of] Spudding ‘Well No. 3-A sec, 2-26-90 of the Lost Soldier field, is now down sev- eral hundred feet, This well is being drilled by the Utah Oil Refining company on its Hughes lease at Lost Soldier, near the original d: covery well which is now dry. Prairie Dividend, Fj INDEPENDENCE, Kans,, March 14.—A dividend of two dollars per share has been declared in stock of the Prairie Off and Gas company, 6 April 30, to stock of record March 31, it was announced by the company today LIBERTY BONDS NEW YORK, March 14.—Liberty bonds closed: 99.: 99.31; fourth 4\s, 99. ernment 4%s, 100.3. erated to 77 Per Cent of Capacity A total of 247 refineries reported to the Bureau of Mines as operat- ing during January at 77.2 per cent of thelr aggregate daily crude oil capacity. of” 2,142,222 barrels, run- ning to stills a dally average of } 1,653,025 barrels of both foreign and domestic crude oils. This was al- most exactly the same rate of operations as in December but an increase of 9.4 per cent as compared with operations a year ago. Gasoline production in the United States amounted, in January, to §695,322,500 gallons, and established new high record of monthly pro- ‘duction, according to a report of the Department of the Interior based on igures compiled by the Bureau of / Mines, The previous month of De- cember had also established a new high record production mark. The daily average of gasoline production in January amounted to.an increase of 5.56 per cent over the December daily average and an inc.pse of | 11.5 per cent over the rate fu~ Jan- uary a year ago, Imports of gaso- Mne during January were 19,399,197 ) gallons, a decrease of approximately © 6,000,000 gallons from the December {mports. The new gasoline supply B (production plus imports) was 714, 631,697 gallons, an increase of 12.1 per cent over jast year’s figures, The indicated domestic demand for gasoline in January was 493,- 160,950 galions, a decrease of about 20,000,000 gallons from the Decem- ber figures. January exports of this product were 88,823,007 gallons, an increase over December exports of about 12,700,000 gallons. The total demand (domestic demand plus exports) was 586,983,957 gallons, a decrease of about 8,000,000 gallons, or 1.25 per cent from the December figure, but an increase of 18.2 per cent over the figures for January, 1923. . Gasoline stocks reported to the Bureau of Mines as of February 1 were 1,02,547,390 gallons, an increase of 127,647.740 gallons during the month. This seasonal increase in stocks, indicating the normal ten- dency toward accumulation of large gasoline stocks in the winter season when automobile activity slackens, compares with an increase in stocks of about 119,000,000 gallons during January of last year, —_———_ Poultry. CHICAGO. March 14. — Poultr: alive. fow!s %4c to 1c higher; others unchanged; fowls 24%c; springs 28%gc; roostora lic. geese lfc, New York Stocks Last Sale Allied Chemical & Dye -.... 684% waa 115% American Car and Foundry. 167% American International. Corp 22% American Locomotive enne 99% -~---164B Consolidated Gas -—_-..__.. Corn Products Cosden O11 .-. Crucible Steel - Cuba Cane Sugar pfd --_-.. ee ie —a Famous Players Lasky ex div General Asphalt -—--....... General Electrio --. Genera! Motors ~ Great Northern pfd ~~... Gulf States Steel ex div. Winols Centra -. Inspiration Copper --... International Harvester —.. Int. Mer. Marine pfd. -. International Paper - Invincible Ofl ----—-.---.-. Kelly Springfield Tire .-.. 180% 35% 62% 68% 23% 66% 41% 225% 15% 56% 81% Loulsville and Mack Truck -. Marland Of Misrourl, Kan. anc Tex. (new) Missourt Pacific .pfd. New York Central N.Y. N. H. and Norfolk and Western -—.... Northern Pacific ex div. ~~ Pacific Oil Pan American Petroleum B - Pennsylvania People’s Gas Producers and Refiners -_-_ Pure Oib Reading ~---~--------------- Republic Iron and Steel ----- Sears Roebuck ----. Sincla'r Con, Ol! ------------ Southern. Pacific -. Southern Railway ----------- Standard Oil ef N, J. Studebaker Corporation ~.--- 101% Texas Co. ne Texas and Pacific Tobacco Products A - ‘Transcontinental Oil Union Pacific -- U.. 8. Ind. Alcohol ..------ United States Rubber ------. 34% United States Steel -----—— 103 Utah Copper ex diy. --------- 67% Electric -----~ 63% 11% 3%B uB American Zing, Lead ané Sm. Butte and Superior --------- Colorado. Fuel and Iron .--. Montaga Power -~--.. National Lead ex div. -..-.-- Shattuck Arizona -.. = SE nEeeieen ae Standard Oil Stocks 11% Continental Cumberland Galena Hinois Indiana Nats fran. | -—-_____- N.Y. Nor. Pipe ------------ Ohio ON) ci ne, a1 Prairie womeawne-- 245 Prairie Pipe ---------- 105% Sclar Ref, ----——---. 103, Sou. Pipe ~---.---.---. 95% Ss. O. Kan. 43% Ss. O. Ky. 11 8. O. Neb. .. -~ 241 8S. O, N.Y. -------2--- 434 8. O. Ohio -—------— 327 ‘Vacuum 63% Ss. P. Ol! _-_..----- 160 8. O. Ind. -—-..-—--- joe meen 61% «62 CRUDE MARKET Cat Creek -. Lance Creek Osage -----. Grass Creek light Grass Creek, heavy --------.. Torchlight —~. Greybull ~. Elk Basin _---__----.. Rock Creek eo ee ee Big Muddy -—-—----------- Mule Creek -. Sunburst Hamilton Dome ~~. Ferris ~ -—~---~-------~----. Byron Notches Pilot Butte Lander STOKES CASE SET IN APRIL CHICAGO, March 14.—Trial of W. E..D. Stokes, millionaire New York hotel owner and co-defendants on charges of conspiracy’to defame Mrs. Helen Elwood Stokes of Den- ver, whom 8to! tried un successfully to will be ted late in April, {t was agreed The time will be wet April wocennene eee 1.95 90 1.95 1.95 | clipped ewes 9.21 Chappell - -------— .13 Columbine ~----— .12 Consolidated Ripyalty. 1.29 S - 4 09 wana eee = == 00% 01 Kinney Coastal -..... .13 13 Lance Creek Royalty. 01% .02 Marine - Mike Henry - % .01 Mountain & Gulf -.. 1.37 1.50 New York Oi] ...-..11.00 12,00 - 02 Ot a az 08% .08%5 01% .02 Tom Bell Royalty --- .01 .02 Western Exploration - 3.60 3.70 Wyo. Kans -_... 15 Western States -.--— ¥Y. on .. mownccnn 09 10 NEW YORK CURB CLOSING ack 18.12 40 Mountain Producers*— LIVESTOCK Chicago Prices CHICAGO, March 14.—{U. 8. De- partment of Agriculture}—Hogs— Receipts 42,000; fwrly active, most- ly 10c lower than yesterday's aver- age; bulk good and choice 180 to 300 pound butchers 7.20@7.35; top 7.40; better grades 150 to 170 pound bulk killing pigs strong to 25¢ higher; good and cholce strong weights mostly 6.00@6,50; heavy welght 7.25 @7.40; medium = 7.20@7.3! ght weight 6.80@7.30; light light 6.00@ 70; packing sows rough slaughter pigs 4.25@6.50. Cattle—Receipts 4,000; general market active; all classes steady to Strong; spots 10 to lfc higher on fed steers and fat she stock; most fed steers commons and medium grade offerings selling 75@9.50; few above 10.00; top early 10.2 stockers and feeders in broader de- mand on country account; vealers uneven; most Ught and handy welght offerings to packers 9.00@ 10.00; shippers selecting upward to 12.50 and abov practically all weeks’ decline on fed steers regain- ed; clearance good. Sheep—Receipts 8,000; fat wooled lambs slow; no choice kinds sold: few medium kinds 14.50@14.' around steady; good and choice cll ped lambs 13.25@13.75; fat sheep 25 cents higher; several decks choice odd lots wooled ewes upward to 10.90; feeding lambs Averaging around 62 pounds 15.25; steady. Omaha Quotations OMAHA, Neb., March 14.—(U. 5S. Department of Agriculture)—Hogs— Receipts 17,000; active; 10 lower than yesterday's close, or 10@15 lower than ay je; bulk 220 to 300 Pound butchers 6.904)7.00; top 7.00; ‘desirable 180 to 220 pound weights 6.65@6. plainer lights 6.40@6.65; bulk packing 6.25 @6.30; smooth grades up to 6.40; average cost yesterday 6.95; weight 245. Cattle—Receipts 1600; beef steers, yearlings and she stock moderately active, steady; killing quality plain; bologna bulls 15@25 lower; vealers steady, quality considered; stockers and feeders nominally steady; bu‘k beef steers and yearlings 7.75@9.00; one outstanding load averaging 1, 586 pounds 18.10; bulk butcher cows and heifers 4.75@7.00; canners and cutters 2.50@3.75; vealers to packers upward to 10.00; bologna bulls 4.25@ 4.35. Sheep—Receipts 3,500; practically entire supply, fat wooled lambs 10 to heep and shearing lambs nor- shep and shearing lambs no- minally steady. * Denver Prices DENVER, Colo, March 14. (United States Department of Agri- culture)—Hogs—Receipts 350; few early sales 10 to 15c lower; few loads good to choice medium weights and ‘one load 225 pouna kind 7.00; others few light lights 6.50; packing sows mostly 5.75, Cattle—Receipts 500; calves 100; most of run on through billing: sales steady; two loads good heifers 7.50; one load cows 5.60; best vealers few stockers 6.75. Sheep — Receipts 540; killing classes strong to 18c higher; top 15.25 freight paid for choice kind averaging around 85 pounds; several loads 88 to 98 pound averages 15.00 @15.15; one load 96 pound fat ewes 9.75; flat; two loads 84 pound lambs of feeders 15.00; strong; few 101 pound shearing lambs 14.25 freight paid. —— MONEY NEW YORK, March 14.-—Call money steady; high 4; low 4; ruling rate 4; closing bid 4 a at 4%; last loan 4; call loans agalnet ac. ceptances 4; time loats steady; mixed collateral 60-90 days 4%; 4-6 months 4%; prime commercial paper 4%. offer Irregularity Marks Closing Sales After Early Strength NEW YORK, March 14—Concert- = of special stocks tmparted ne to the early part of to- « market, but irregularity developed later when short selling was resumed against vulnerable {s- sues. Sales approximated $350,000 shares. NEW YORK, March 14—Con- structive forces were at work at the pening of today's stock markets, @istributing buying orders _withou! the Ust, which displayed a firm tine. Chicago and Eastern Iinols pre ferred, dividends on which were re- Ported to be under consideration? ad- vanced one point and most of the standard industrials improved frac- tfonally. Market Street Railway. prior pre- ferred dropped 3% points to 45%, @ new 1924 low, on unfavorable div- idend rumors. Prices in the general lst moved unmistakably upward in the early dealings but the principal fluctua- tions took place in the specialties particularly those in which pools are reported to be operating. General Electric advanced 3%. Corn Pro- duets 1% and DuPont 1% while American Can, U. 8. Cast Iron Pipe and Mack Truck moved up a point or #0. Weakness developed in Goodrich and Commercial Solvents A, each of which sagged about a point, Foreign exchanges opened irregular. Continuation of easy money rates contribuied to the strength of the morning market, but trading was azain on a restricted scale, Railroad shares benefited by the inaugura- Uon of dividends on Southern Rail- way Common, Chicago and Eastern Illinois, preferred exiending its gain to. 1%; Norfolk and Wbstern record ing a similar advance, and Norfolk nd Southern moving up a_pofnt. Baldwin and American Can moved up a point or more but trading in other standard industrials was quict. ational Lead advanced 8% points. Famous Players, Kelly Springfield Pierce Ol! preferred and Stewart Warner yielded 1 to 1% points on selling. Low priced share: particularly the St. Paul, Rock Island and the Southern and Southwestern rallroads were’ taken In large amount after midday at advances of 1 to 2 points with all of the Wabash Issues reach- ing new high figures for the year. General Electric climbed s!x points to 224%, another high record, Amer- ‘can Smelting was also in brisk de- mand, Wilson Packing, however, broke.three points to 12%, a new minimum and Stewart Warner lost 3% at 86%, another year’s low. The closing wase irregular. The usual weak end profit taking and a bear attack against the tire stocks unsettled the general list in the late] ” dealings. Wilson Preferred broke 19 points to 45, the year's low, and Kelly Springfield touched a new bottom at 20%, off 3 SUGAR NEW YORK, March 14.—No fur- ther changes occurred in refined su- gar with fine granulated listed at 8.60 to 8.90, Demand continued good at the Inside figure. Refined futures nominal. In the afternoon there was a salo of 12,000 bags of cuban for April shipment at 7.16 cents duty paid. Tho spot price remained unchanged at 7.03 cents. Sugar futures closed steady; ap- proximate sales, 26,000 tons. May, 5.41; July, 5.46; September, 5.43; De- c METALS NEW YORK, March 14.—Copper electrolytic spot and futures Tin firm; spot and nearby 5 futures 55.254755.37. Iron unchanged. Lead steady; spot 9.00@$9.50. Zinc quiet; East St. Louis spot and near- by 6:50, Antimony spot 11.00@11.25. (et ho dae ian an Flour MINNEAPOLIS, Minn., March 14. —Flour unchanged. Bran 23.00. Sese att stbletty NEW YORK, March 14.—Foreign exchanges, irregular, Quotations in Great Britain, demand’ 428%; 428%; 60-day bills on banks, ance, demand 4.64; cables, Italy, demand 4. bles, Belgium, demand 3.84; cables, sermany, demand per trillion, Holland, 37.96. Norway, 13.51 Sweden, 26.32, Denmark, 15.51. Switzerland, 17.31%. Spain, 12.9 Greee 1.62 Poland, .000014. Czecho Slovakia, 2.89. Jugo Slavia, Austria, .0014. Rumania, Argentina, demand 33.50. 11.75. Tokio, 41%. Mon- treal, 96. 21-82, CHICAGO, March 14.—Butter roe- celpts 8,928 tubs; creamery extras 47%c; standards 47140; extra firsts 4614 @iTo fists 45@46;c seconds 444i “ges 14%@ revoiptw 20.740 eases; firsts ort sots 202045. cs Mae Tribune wantadg bring results, Weakness Develops In Chi cago Trading Late Today CHICAGO, March 14—Liquidation which developed in the corn market brought about a decided set- back in the price of that cereal and also wiped out early gains in wheat Failure of rural support for the corn market attracted much notice Whent closed unsettled at the aame as yesterday's finish to. %o lower, May $1.05% to $1.05% and July $1.06% @%s to $1.06%. CHICAGO, March 14. — Wheat showed a firmer tendency today in tho early dealings, than for several cays past. Strength of Liverpool quotations was a bullish factor and 80. too, was yesterday's enlarged European buying on this side of the Atlantic. On the advance in prices here, however, offerings increased and @ reaction took place. The open- ing, which ranged from Ke to higher, with May $1.06% to $1.06%, and July $1.07% to $1.07%, was fol- lowed by declines to slightly below yesterday's finish, and then by something of a ra Later the market was bearishly affected by corn weakness which, however, was more or less offset by estimates that 2,000,000 more bush- els Canadian wheat had been bought today for shipment to Eurdpe. The outstanding feature in corn and oats wns lack of selling pres- sure. With weather unfavorable and country offerings small, it took but little buying to make corn advance Neverthel when wheat turned weak, corn followed. After opening Me to Mo higher, May 80%c to 80%, the corn market steadied at around yesterday's latest figures. Subsequently, the corn market broke badly under lNquidation, espe- clally In the last half of the day. Slowness of demand from shippers here and from industries had a de- pressing effect. Corn closed heavy, 1% to 20 net lower, May 77%c. Oats started unchanged to %c up, May 46c, and held within narrow limits. Provisions were without {mport- ant changes. Open High Lew Close WHEAT: 1.06% 1.06% 1.05% 1.05% 107% 1.07% 1.06 1.06% === 1.07% 1.07% 1.06% 1.07% 80% . | 81% 81% 46 46% 44% 45 Az 80% 81 9 81 79% 46 44% 42 11.10 11.35 11.05 11.27 11,05 11.27 9,65 10.90 10.30 10.65 Cash Grains end Provisions. CHICAGO, Mach 14.—Wheat— red $1.05@1.08; No, 2 hard, 3 mixed, TT@78 4c. —No. 2 white, 46% @46%c; 3 white, 45% @46%c. No. 3, 65%c. —69@T5e. Clover seed—$6.00@ 8.00, Timothy seed—$16.50@23.50. TLacd—$10.85. Ribs—$9.50. Lelues—$10.25. BUSINESS GOOD IN THERMOPOLIS THERMOPOLIS, Wyo., March 14. There is nothing discouraging about the business outlook of Thermopolis. Prospects are that 1924 will be the best business year in the history of the Hot Springs capital. The Wyoming ‘Trust company has just moved into a handsome new bank bullding at the corner of Broadway and Fitth. W. F. Virgin has plans made and 1s about to contract for the erection | 10% @18%c; | of an apartment house, modern, one| f of the largest in town. Chan & Levin, who purchased the building vacated by the Wyoming Trust company, this week gave a contract for remodelling it. The room will be put in shape for mer caritile use, a modern front bullt in and the building extended back to the alley, 47 feet Thermopolis Chamber of Com merce will bufld a new addition to one of the community bulldings at the tourist camp ground, preparing | for a greatly increased tourist busi- ness that is expected because of the opening of Wind River Canyon highway. rter hotel on the Springs siCe of town, will change hands, March 28. Heretofore part of the Carter has been used for san- atoriutn purposes. It is the inten-| tions to remodel the building, bulla ® substantial addition and use it entirely for hotel purposes. rea A number of new residences © course of bulldt Hot eounty residence. ¢ remortells H. MeCo: mack is and virtually re | building hig residence recently dam ‘ Ceechoslovak Rep. Dominion of Cana French Republic, Japanese, 45 _ Kingdom of Belgium, 8 Kingdom of Norway, 6s Rep. of Chile, &s, 1946 — State of Queensland 6s ___ U. K of G. B. and 1, 54a 199 Ralway and Miscellaneous American Smelting, 5a American Sugar, 68 _ American Tel. col. tr. Anaconda Copper 7s, 1938 Anaconda Copper, 6s, 1955 At. T. and San. Fe., gen., 4s Baltimore and Ohio cv., 44s -——— Bethlehem Steel con., 6: Canadian Pacific deb., 49 —.....-. - Chicago, Burlington and Quincy ref. and St. Paul, ev., 444) Chicago, Mil., le Copper, és Goodyear Tire, § Great Northern, Montana Power, is A ‘orthern Pacific ref., 6s B forthwestern Bell Te Pacific Gas and Penn R. R. Sinclair Con. O1 Southern Pacific Union Pacific U. 8. Rubber, and Light, Union 6%s Series A -—--—-_._. ba A Bl PROGRAM PLANNED FOR ROAD OPENING Thermopolis Already Making Ready for July Event. THERMOPOLIS, Wyo., March 14.—Thermopolis Chamber of Com- merce is arranging a big program for the official opening cf Wind River Canyon road, July 1 and 2. People of this town and of the en. tire Big Horn basin are much inter- estes in this event because it opens up to the south and east the entire northwestern portion of Wyoming, an empire comprising 20,000 square miles in which is located sdmo of the most fertile and productive soil of the state. Northwestern Wyo- ming has been isolated from the rest of the state by natura! barriers for highway traffic, except during 100 days of summer. Notorious Birdseye pars, an old stage route which was the dnly road heretofore and which for years has been the horror of tourists, has become only an unplesant memory. The entire program for the two days has not yet been completed, but word has been recelved from enough officials af state and nation to know that there is great inter- est in the event and to assure the success of the celebration. The Lit- erary Club and reveral other or ganizations of Thermopolis are co- operating with the chamber of com- merce. General Pershing has been invited here for the occasion and as it is possible that the will be in the west at that time he may stop off for a Cay. The entire state highway commission and members of former boards have expressed their inten- tions of beifig on hand. The entertainment committee 1s arranging for a big show for the two days, Thermopolis has a reputa- tion of extending a warm glad hand ta visitors and the town intends to surpass all former efforts on the occasion of the opening of Wind River Canyon highway. It is going to be the biggest event in the history of the state, according to Thermopolis Chamber of Com- merce, JAP DENIES — ACCUSATION NEW YORK, March {4.—Shigeii Fajima, manager of Mitsui and company ,denied ‘today that a repre- sentative of the firm had paid aston B, Means $100,000 for the purpose of stopping government prosecution of the Standard Air- craft company as alleged by Means in his testimony before tho senate | committee. POTATOES CHICAGO, March 14.— Potatoes receipts 812 cars on track 90; slow firm on Idahos, but barely steady on others; Wisconsin round white $1.20 @1.35; bulk $1.25@1.40; Minnesota a North Dakota Red River Ohlos 25@1.40; Idaho sacked Russets $2.40@2.05; fancy $2 aged by fire, W. K. Maret ix butld- ing @ new tenant house on his Warren street property, There are a number of other building projects contemp!s which would " Tribune ( [ver cs CORRUPT’ RULE MADE BASIS OF M’ADOO SPEECH MARIETTA, Ga, March 14— Adoo, candidate for presidential nomina- tion in his first address in Georgia here today, declared that “progres- sive Democracy” and “corrupt Re- publican misrule” will be the choice of the American electorate in the presidential election and asserted that the “records of Woodrow Wil- son and the Harding-Coolldge ad- ministration will be before the peo- ple in November.” Reviewing the Wilson administra. tfon and his own services in the cabinet, the former secretary of the treasury pointed to the tariff reform the federal reserve system, the es tablishment of the federal land banks, the enlightened policy ‘of the government railroad administration as evidences of the progressive prin- ciples of his party. “Contrast this progressive Demo- cratic record” he said, “with what has gone on at Washington during the past three years of reactionary Republican rule. “There has been an orgy of priv- flege and corruption. The Ford- ney-McCumber tariff bill was passed for the benefit of private and as a reward to those who furnished the enormous campaign funds of 1920. “In the revision of the internal revenue laws the men of great in- comes were favored at the expense of . those who carn small and moderate incomes. “The shifting of the burden of taxation through the Fordney-Mc- Cumber tariff bill has increased the cost of commodities to every con sumer tn the land; excessive rail- road freight rate has imposed con- sumption taxes of the most onerous character and increased again the cost of commodities to every con- sumer. The skillful shifting of the bulk of the burden of income taxa- tion from the shoulders of the rich to the backs of the poor are visible evidences of the application of the Republican principle of government established in the interest of the favored few as against the progres- sive Democratic principles of gov: ernment, administered honestly and efficiently in the interest of all the people. “We frequently hear {t sald there is no real difference between the two old political parties,” he con- tinued. “This is true only to the extent that the small reactiona element in the Democratic party thinks like the dominant reactionary element in the Republican party. “Progressive Democratic princl- ples and Republican reactionary principles are as wide apart as the poles, The fundamental progres. sive Democratic principal is equal opportunity for all, special privilege to none. The case for the progres- sive Democratic principles of gov- ernment is conclusive. ‘This was demonstrated throughout the admin- istration of that immortal states. man and Democrat, Woodrow Wil son, “In the applica gressive Democratic pri tional lines were not cx operation was extended part of the country. Th her share of the b first time since t cetved the jus rs to which her importance as an integral part of the American union entitled her." the democrat 1 of thia’ pro Pes S 18 REE OU Se. COTTON | YORK, March 14.— quiet; middling, 25.90. Beg 2's ok SILVER ORK, March 14,—Bar all. %i Mexican dollars 48%. EW cotton, NEW Y